There’s a whole lot of dialogue on-line about writing charges. What’s one of the simplest ways to bid a challenge? By the phrase? By the hour? By the challenge?
All of them have their makes use of, particularly since some publications and companies are form of within the behavior of utilizing one or the opposite of those strategies for deciding what they’ll pay.
Which writing fee is one of the simplest ways to cost jobs?
To my thoughts, it’s by the hour.
Time is your most valuable useful resource. You solely have so many work hours within the yr, so you should make as a lot per hour as you’ll be able to. Which leads me to my one necessary rule of pricing jobs:
Regardless of the way you value the job, observe your hours and work out your hourly fee
As a result of should you don’t know your hourly fee, how will you work on elevating it? How will you examine shoppers and know which to maintain and which to drop?
Now, should you’re working for an ongoing copywriting shopper, I personally imagine bidding by the challenge is finest. Your shopper is comfortable as a result of they know precisely what they’re going to pay, and you’ll finances for the quantity you’ll earn.
The trick to picking the perfect writing fee is making a flat payment for that challenge that will provide you with what you need
You’ll be able to solely do this by getting some expertise with how lengthy it takes you to do issues. Clearly, this setup rewards effectivity. For those who’re unusually quick, you’ll be able to bid on a par with different writers, however find yourself with a greater hourly fee, and earn extra over the course of the yr.
Earlier than the downturn, I assumed excessive per-article charges have been the reply to maximizing earnings. However I’ve realized that’s not at all times true. After I was scrambling round for a couple of new shoppers in late 2008/early 2009, I obtained a proposal from an outdated editor buddy to write down some fast articles for $100 apiece, simply primarily based on my information of enterprise subjects, supplemented with a bit of on-line analysis. (Hey, it’s above my $50 an project restrict, individuals!)
At first I used to be appalled. Previous to this time interval, in regards to the very lowest article fee I took was $300. Then I assumed what the heck, and gave them a strive.
I discovered I might write them in an hour to 90 minutes. Slightly fast math and hmmm…that’s $70-$100 an hour. Not too shabby. I’ve stored this work pretty much as good occasional filler initiatives . A fast scan of my payments confirmed I picked up $1,700 this manner in 2010 in perhaps 20 to 22 hours. So the lesson is: Any work that earns a excessive hourly fee is nice writing work.
After all, getting a shopper the place they’ll allow you to merely invoice for nonetheless many hours you’re spending on their initiatives every month is the best. Then you realize you’re getting paid for each hour you’re employed. I had a shopper like that at $95 an hour for greater than a yr, sending me work each month. I feel proper now, these jobs are more durable to return by.
However billing hourly protects you in opposition to the evil that’s scope creep: the state of affairs the place you bid a flat challenge payment, however then the parameters of the challenge continue to grow, as does your time spent. Been a lot of dialogue of learn how to deal with this sticky drawback on LinkedIn.
Most publications are inclined to assign a value per phrase or give a flat article value. Wherein case, you might have to work in your effectivity to verify your fee stays pretty much as good as doable.
However you’ll be able to at all times ask for extra money. I’ve gotten firms so as to add $50-$200 to an article project or extra in the event that they ended up wanting sidebars, or an extended size, or I knew they have been a gradual payer.
What do you favor? Billing by the challenge, the hour or the phrase?
Picture through Flickr consumer zoutedrop